Is an extended RV warranty a worthwhile investment? When you buy an RV, it involves numerous considerations. Oftentimes, new RV owners focus on factors such as the floorplan, mileage, size of holding tanks, and whether to buy used or new.
However, it’s easy to overlook the extended warranty. As you invest in your new motorhome, is this warranty worth the cost? Is it really necessary?
Below, we take a careful look at extended RV warranties. We cover what they cover, the general cost, and how to find the right type for you. Ultimately, whether it’s worth it is up to you.
We just want to help you along the way.
As you shop for a new RV, consider stopping by for a thorough RV inspection to make sure you know the real condition of your motorhome.
What Is an Extended RV Warranty?
When you have an extended RV warranty, the purpose is to cover the cost of major repairs after the manufacturer warranty expires. Oftentimes, dealers sell these warranties. However, it’s also possible to purchase them from a third party.
What Does an Extended Warranty Cover?
That’s the question, right? As it turns out, there are several answers. Ultimately, it depends on the type of warranty you purchase.
This aspect of your decision is extremely important. As an RV owner, you need full clarity on what type of warranty you have before you buy it. This way, you avoid undesirable surprises when you try to file a claim. Take it from us, that is the worst time to learn about your coverage.
If you purchase an extended RV warranty, be sure it offers the coverage you need when you need it.
When it comes to extended RV warranties, there are three main types.
Exclusionary RV Warranty
Typically, an exclusionary RV warranty offers the highest level of coverage. However, as you might guess from the name, there are specific exclusions to this coverage. As such, it’s essential to be aware of those exclusions.
Generally, this type of warranty covers the mechanical components of your motorhome – minus any exclusions in the policy. Often, this policy covers slides, engines, refrigerators, and air conditioners. Exclusions vary with the policy, but here are common examples.
The key to this type of policy that benefits RV owners is the knowledge of these exclusions before you buy. With this policy, you know exactly what it covers and what comes out of your pocket.
Comprehensive RV Warranty
In this extended RV warranty, the policy lists specifically what it covers. Similarly, it is essential to read through this warrant thoroughly. Coverage varies by policy, provider, etc.
For instance, your policy could include anything from the transmission to the brakes as well as plumbing and electrical systems. Read through the warranty carefully to ensure it lists everything you want to cover.
Anything it fails to mention comes out of your pocket.
Coach Only RV Warranty
At first glance, this extended RV warranty seems self-explanatory. You expect it to cover only components of the coach and not your engine. Typically, this is the case.
However, it’s still important to go through the policy carefully. Make sure it covers the items you want to cover. The goal is to avoid those surprises when you submit a claim.
Never make assumptions about an extended RV warranty.
Generally speaking, the coach-only warranty covers water, plumbing, leveling jacks, slides, and more. However, there are exclusionary and comprehensive versions of these policies. Be clear about the type of policy you buy so that you know what it covers.
Oftentimes, this is a useful policy for new or newer RVs while the engine, chassis, transmission, etc still have coverage from the manufacturer’s warranty. Usually, the manufacturer warranty runs longer on the house component of the RV.
What Should I Look for in an Extended RV Warranty?
As mentioned above, the most pressing concern as you shop for an extended RV warranty is what it covers. Still, there are other important factors to take into consideration.
As you shop for a policy, try to get an idea of how the provider handles claims and reimbursements. Additionally, it’s important to know the overall cost of the warranty as well as “fine print” details.
- “Out-of-the-RV” expense coverage
- Limits on repair providers
- Other limitations they note
Lastly, the reputation of the provider is extremely important. Read through reviews to see how people rate their customer service and claim responses. Moreover, when you think you’ve read enough reviews, read a few more.
How a company treats its customers over time is a great barometer for what to expect from them. With an extended RV warranty, you want to avoid unpleasantness that adds to an already stressful situation.
How Much Does an Extended Warranty Cost?
There’s no universal answer to this. Typically, the cost of an extended warranty varies drastically. Overall, it depends on the type of RV you have, what kind of coverage you want, the duration of your coverage, and the provider.
If you have a small travel trailer that you only use in the summer, you might pay around $1000. When you want full coverage on a luxury motorhome you live in, it might run you up to $20,000.
Really, the only way to determine the cost of an extended RV warranty is to get quotes from a few providers. As you reach out and explore your options, be clear about the coverage you want.
How to Find the Right Extended Warranty for You
As you search for the right extended RV warranty, it’s important to educate yourself. Moreover, it’s a good idea to seek input from the RV community. Generally, plenty of people have experience with warranty providers and are happy to offer insight.
Again, as you look at policies, read through everything. Ask questions until you feel like you fully understand the coverage.
Also, we want to reiterate the importance of reading reviews. This does wonders in helping you examine the level of service different providers offer.